Farmers & Merchants Investments Inc. Acquires 503 Shares of Arista Networks, Inc. (NYSE:ANET)

Farmers & Merchants Investments Inc. raised its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 312.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 664 shares of the technology company’s stock after acquiring an additional 503 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Arista Networks were worth $73,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Zions Bancorporation N.A. lifted its stake in shares of Arista Networks by 6.9% during the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after purchasing an additional 27 shares during the last quarter. Intellectus Partners LLC lifted its position in shares of Arista Networks by 1.4% during the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after buying an additional 27 shares during the last quarter. First Affirmative Financial Network boosted its holdings in shares of Arista Networks by 4.3% in the 3rd quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock valued at $262,000 after buying an additional 28 shares in the last quarter. Altman Advisors Inc. grew its position in shares of Arista Networks by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after buying an additional 28 shares during the last quarter. Finally, HM Payson & Co. raised its stake in shares of Arista Networks by 28.2% during the 3rd quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after acquiring an additional 29 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Arista Networks

In related news, insider John F. Mccool sold 288 shares of Arista Networks stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $108.70, for a total value of $31,305.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the transaction, the director now owns 155,784 shares in the company, valued at $17,450,923.68. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 255,832 shares of company stock valued at $28,538,497 in the last 90 days. 3.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. UBS Group boosted their target price on Arista Networks from $92.25 to $106.25 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Barclays decreased their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Piper Sandler restated a “neutral” rating and set a $105.25 price target (up previously from $86.25) on shares of Arista Networks in a research note on Friday, November 8th. Finally, The Goldman Sachs Group lifted their target price on shares of Arista Networks from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

Arista Networks Stock Performance

Shares of ANET opened at $118.52 on Friday. The company has a market capitalization of $149.31 billion, a P/E ratio of 56.98, a P/E/G ratio of 3.10 and a beta of 1.09. The business’s 50-day moving average is $113.21 and its two-hundred day moving average is $99.81. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.08. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the business earned $0.41 earnings per share. Arista Networks’s quarterly revenue was up 20.0% on a year-over-year basis. Analysts forecast that Arista Networks, Inc. will post 1.97 EPS for the current year.

Arista Networks Company Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.